South Korea's Banking Stocks Surge 13.71% in a Week as Semiconductor Weakness Drives Rotation

According to Financial News, during the week of June 29-July 3, the KRX Banking Index surged 13.71% and the Securities Index climbed 12.83%, marking the highest weekly gains among KRX indices as semiconductor stocks weakened. Individual financial stocks including Shinhan Financial Group, Hana Financial Group, and KB Financial each posted double-digit gains.

Consumer discretionary stocks also rebounded, with the KRX Consumer Staples Index rising 8.53% over the same period. Cosmetics shares led the rotation, with Korean Colmar jumping 29.88% and Amorepacific surging 24.95%, as investors rotated funds away from semiconductors into undervalued defensive sectors.